The battery management system (BMS) market is projected to grow at a healthy CAGR between 2017- 2025, states the recent Market Research Future (MRFR) analysis. A battery management system, simply put, is an electronic framework that deals with the inclusion of a rechargeable battery. Its key function is to execute defense as well as damage to cells to guarantee the battery’s long life. Flow batteries, nickel-based batteries, advanced lead-acid batteries, and lithium-ion based batteries are the different types of batteries and have wide applications in uninterrupted power supply, renewable energy systems, telecommunication, portable device, medical, military and defense, automotive, and others.
Various factors are propelling the global battery management system (BMS) market share. According to the recent MRFR report, such factors include the rising adoption of electric cars, focus on increasing efficiency of batteries, growing environmental concerns, plummeting fossil fuels, increasing use in lithium-ion batteries owing to safety concerns.
On the contrary, the high upfront price of electric cars, coupled with the impact of the on-going COVID-19 impact, may deter the global battery management system (BMS) market growth over the forecast period.
The MRFR report highlights an inclusive segmental analysis of the global battery management system (BMS) market based on application, topology, component, and battery type.
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By region, the global battery management system (BMS) market covers the growth opportunities and recent trends across Europe, North America, the Asia Pacific (APAC), & the Middle East and Africa (MEA). Of these, the APAC region will dominate the market over the forecast period. Increase in EV rental stores and kiosks, increasing investments in electric mobility services by giant players by offering electric scooters for traveling shorter distances, the introduction of new EV models, and rapid technological advances are adding to the global battery management system (BMS) market growth in the region. Besides, improved sales of electric cars in Japan and China due to extensive efforts by the government to cut down greenhouse gas emissions are also adding market growth.
The global battery management system (BMS) market in North America is predicted to have healthy growth over the forecast period, in Europe is predicted to have sound growth over the forecast period, and in the MEA is predicted to have steady growth over the forecast period.
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Tables Of Contents
1 Executive Summary
2 Research Methodology
3 Market Dynamics
4 Global Battery Management System (BMS) Market, By Reactor Type
5 Global Battery Management System (BMS) Market, By Strategy
6 Global Battery Management System (BMS) Market, By Capacity
7 Regional Market Analysis
8 Competitive Analysis
9 List of Tables
10 List of Figures
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